WASHINGTON, DC — Today, Sen. Chuck Grassley and Sen. Amy Klobuchar led 23 senators in a bipartisan letter urging President Trump to maintain the point of obligation under the Renewable Fuel Standard (RFS) and deny proposed changes that would derail the current, successful program. The point of obligation designates who in the fuel supply chain is responsible for blending biofuels, and is a mechanism that ensures higher blends of renewable fuels reach the marketplace.
Growth Energy CEO Emily Skor issued the following statement in response to the letter:
“Growth Energy thanks Sen. Grassley, Sen. Klobuchar, and the other 21 senators leading this important effort to support the Renewable Fuel Standard (RFS), the nation’s most successful energy policy. The point of obligation is a vital component of the RFS and is working as intended to make sure that consumers have a choice of fuel at the gas pump. Growth Energy has consistently opposed any change in the point of obligation.
“The fact is – shifting the point of obligation from refiners and importers to fuel marketers, convenience stores, railroads, truck stops and trucking companies, and even consumer service companies like FedEx and UPS – would throw the RFS into chaos. A change would immediately trigger long and complicated rulemaking that would take years to complete. It would create long-term uncertainty in the entire marketplace and reduce consumer choice at the gas pump by removing the economic incentive for retailers to offer higher biofuel blends, ultimately raising prices on consumers.
“The vast majority of the industry remains united in its opposition to any change to the point of obligation. An America-first energy policy means American consumers can access cleaner, more affordable biofuel options at every gas station nationwide. This is an issue where there is no room to equivocate or barter – preserving the point of obligation is essential to maintaining a strong RFS and growing ethanol demand in the U.S.
“We stand proudly with these 23 senators in opposition to this change and will continue to fight for the ethanol industry and rural America.”
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WASHINGTON, D.C. – Today, Growth Energy CEO Emily Skor submitted written comments on the Internal Revenue Service’s (IRS) proposed regulations under section 45Q, a performance-based tax credit for carbon capture projects. In her letter, Skor called on the agency to offer credit for carbon dioxide captured for food and beverage purposes, which would promote investment […]
This week in our “Conversations with Biofuels Champions” summer video series, our CEO Emily Skor visited with one of our top champs in the House of Representatives: U.S. Congresswoman Cheri Bustos of Illinois. Born in Springfield, Illinois, Congresswoman Cheri Bustos comes from a long line of farmers and teachers and a deep appreciation for being […]
CEO @GrowthEnergy tells IRS how #ethanol plants can lead the way on #carbon capture https://t.co/xiHAipVJpI
As @RepCheri Bustos says here, the biofuels industry has a cascading effect on agriculture — it promotes strong supply chains and multiplies rural economic output. Abuse of the Renewable Fuel Standard through refinery exemptions only serves to harm the ag economy. https://t.co/pvW7P4yZ4F
The future of fuel — increased engine performance, lowering our carbon footprint, and eliminating toxic fuel additives — is already here. At @EESI's Clean Energy Expo, Growth Energy SVP of Regulatory Affairs Chris Bliley laid out the benefits that expanding ethanol can bring. https://t.co/aW5v9A4prB
In a letter to the IRS, GE CEO @EmilySkor proposes applying the 45Q performance based carbon tax credit to carbon capture projects at ethanol plants as a way to incentivize and expand their further use. Biofuel producers are ready to do more! See the letter here: https://t.co/MtEDPF0jKy